2014 set to be costliest year for aviation insurance industry since 9/11 attacks

This year is on track to becoming the costliest for the aviation insurance and reinsurance sector since 2001, when the Sept. 11 attacks occurred, reports Forinsurer.

The insurance sector will have to pay $2 billion in compensation for total losses from air crashes, Forinsurer reported citing EuroNews. Meanwhile, experts say that aviation insurance and reinsurance premiums are likely to increase due to the spate of accidents this year.